HomeMy WebLinkAboutORD 5246CITY OF RENTON,WASHINGTON
ORDINANCE NO.5246
AN ORDINANCE OF THE CITY OF RENTON,WASHINGTON,
ESTABLISHING THE PROPERTY TAX LEVY FOR THE YEAR 2007
FOR BOTH GENERAL PURPOSES AND FOR VOTER APPROVED
BOND ISSUES.
WHEREAS,the City of Renton has met and considered its budget for the calendar year
2007;and
WHEREAS,the City of Renton,after hearing and duly considering all relevant evidence
and testimony presented,determined that the City of Renton requires a regular levy in the
amount of $23,646,892,which includes an increase in property tax revenue from the previous
year,and amounts resulting from the addition of new construction and improvements to property
and any increase in the value of state-assessed property,and amounts authorized by law as a
result of any annexations that have occurred and refunds made,in order to discharge the
expected expenses and obligations of the City and in its best interest;and
WHEREAS,the City ofRenton also has a voter-approved property tax levy for Senior
Housing Bonds,and the debt service requirement on those bonds is $516,000 in 2007;and
WHEREAS,the City must levy this amount in order to discharge the expected expenses
and obligations of the bond;
NOW,THEREFORE,THE CITY COUNCIL OF THE CITY OF RENTON,
WASHINGTON,DOES ORDAIN AS FOLLOWS:
SECTION I.The regular property tax levy is hereby authorized for the 2007
levy in the amount of $23,646,892,which is a percentage increase of one percent from the
previous year plus amount for new construction and annexations.
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SECTION IT.
ORDINANCE NO.5246
In addition,the City of Renton requires a levy of $516,000 for the
purpose ofpaying debt service on voter approved Bonds for Senior Housing.
SECTIONllI.
$24,162,892.
The total property tax levy for the City of Renton shall be
This increase is inclusive of revenue resulting from the addition of new construction and
improvements to property and any increase in the value of state assessed property,and any
additional amounts resulting from any annexations that have occurred and refunds made.
SECTION IV.
30 days after publication.
This ordinance shall be effective upon its passage,approval,and
PASSED BY THE CITY COUNCIL this 11 t h day of __D_e_c_e_ffi_b_e_r__--C',2006.
Bonnie I.Walton,City Clerk
APPROVED By THE MAYOR this 11 th day of December
;;T:;.e.d as.to form.:.~2kJ~
Lawrence 1.Warren,City Attorney
,2006.
Date of Publication:12/15/2006 (summary)
ORD.1292:1O/26/06:ma
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